Following up on the discussions from the Multi-Housing World panel about interacting with Online Communities, here is an interesting post from Alexander van Elsas.   I know this is an old post, but it was relevant to the discussion we had about the value of advertising on social networks.  Here is the issue with the multi-family housing industry I am finding:

1)  I referred to Internet Listing Services and SEM as “Traditional Advertising” in our panel. In the case of the apartment industry, this is far from the truth.  Over one billion dollars is still spent on print advertising, mediums that were affective in 1999.   Though these mediums are essential for C properties and still may drive leads to others, the effectiveness is low and cost/lead is high.

2)  The overally industry will be a generation behind. Though there are significant advertising opportunities outside of ILS’s or SEM, those slow to adapt an online ad strategy will not be able to utilize the value of social media.

That being said, here is another interesting post about the actual value being provided to consumers of social networks.

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